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January 23 2025

Reef Daily

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Reef Daily | January 23 2025

Housing Market Update

Latest Market Data (January 23, 2025) The median sale price reached $378,144, up 5% year-over-year, marking the smallest increase since October. Pending sales declined 10.1% to 51,122, the biggest drop since October 2023. Active listings increased 8.8% to 859,262, though this represents the smallest increase in nearly a year.

Construction Activity Texas new home sales showed strong performance, with December sales up 5% across its four largest markets and 14% higher year-over-year. Dallas-Ft. Worth reported 1,990 sales, Houston 2,184, San Antonio 1,075, and Austin 834.

Mortgage Rates

Current rates as of January 23, 2025:

Type Today's Rate Last Week's Rate
30-year fixed 7.05% 7.13%
15-year fixed 6.36% 6.38%
5/1 ARM 6.29% 6.39%

Future Forecasts Fannie Mae has revised its outlook, now predicting 30-year rates will only drop to 6.5% by year-end and 6.3% by the end of 2026.

Notable Transactions

Commercial Highlights

  • Boston investment group acquired The Argonne apartment complex in Denver for $99 million, featuring 14 buildings on 16.7 acres
  • Good Meats LLC purchased a 50,000-square-foot building in Hauppauge for $19 million
  • Ashleigh Trading Ltd. acquired a 10,000-square-foot industrial building in West Babylon for $2.175 million

Regional Activity Wisconsin showed strong December performance with home sales jumping 9.2% and median prices rising 13% to $305,000. Texas new home markets demonstrated resilience with Houston, Dallas, and San Antonio all reporting increased sales.

Market Indicators

Inventory Trends New listings increased 17.9% nationwide, marking the highest number since October. Active inventory is up 25.1% compared to last year, continuing a 63-week streak of year-over-year increases.

Buyer Demographics Median days on market increased to 52 days, the highest level in two years. The share of homes sold above list price decreased to 21.3% from 23%.

Regional Developments

West Los Angeles is experiencing a spike in rental demand due to residents displaced by wildfires.

South Texas new home prices increased across major markets: Dallas-Ft. Worth ($493,899), Houston ($401,678), Austin ($494,714), and San Antonio ($344,343).

Sources

  1. redfin.com
  2. globenewswire.com
  3. foxbusiness.com
  4. libn.com
  5. stocktitan.net
  6. realtor.com
  7. bizjournals.com
  8. noradarealestate.com
  9. pigeon605.com
  10. atlanticcouncil.org
  11. nationalmortgageprofessional.com
  12. stocktitan.net
  13. neworleanscitybusiness.com
  14. calculatedrisk.substack.com
  15. newswire.com
  16. bloomberg.com
  17. drydenwire.com
  18. noradarealestate.com
  19. realtor.com
  20. businessinsider.com
  21. investopedia.com
  22. stocktitan.net
  23. finance.yahoo.com
  24. realestatenews.com
  25. prnewswire.com
  26. kansascityfed.org
  27. lanereport.com
  28. hsr.ca.gov

This newsletter is for informational purposes only and should not be considered as financial advice.

© 2025 Reef Insights. All rights reserved.

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